What year is your vehicle.............? There are some Renault Master II which you can read the Pin Code from the key.............If you have your working key than read the Transponder using Zed-Bull or any Transponder reader tool and you should get the type of transponder and your pin code but, only on some Renault Master II up to 2003/2004 not all............is your key with one button remote key or, its with two button remote key........?
If its some thing like this key than yes you can read the pin code from the key..................look in below link...........
http://www.keyobd2.com/remote-key-1-button-433mhz-pcf7946-chip-for-renault-twingo-clio-master-kango